The government is looking to infuse Rs 1 lakh crore towards Rashtriya Rail Sanraksha Kosh (RRSK). This wish was long pending one, reported the Indian Express.
Finance Ministry has given the Railway Budget Rs 55,000 crore for 2017-18 as Gross Budgetary Support. The first tranche of Rs 20,000 crore for the RRSK will be carved out of that, while the rest will be conventional capital expenditure, official sources told.
Out of the Rs 20,000 crore, Rs 15,000 crore will be for the RRSK. The Railways will have to come up with the remaining Rs 5,000 crore for the year from its own pocket.
The RRSK, too, will be used to clear the backlog of renewal of overaged assets, mostly tracks, signalling systems and bridges.
Railways sought Rs 60,000 crore as Gross Budgetary Support from the government for next year. The request was turned down, with the Finance Ministry initially agreeing to pay Rs 48,000 crore.